Financial Aid

There are several types of financial aid available for graduate students. Financial aid is reserved for our Ph.D. in Economics students.

1. Tuition waiver
The department has a limited number of tuition waivers available. The tuition waiver does not require any work responsibilities and does not provide a stipend. 

2. Assistantships
The primary source of support for graduate students is teaching and research assistantships. Assistantships require between 10 and 20 hours of work per week depending upon the position. They provide a tuition waiver plus a stipend. 

3. University Fellowships
These are awarded to outstanding applicants on the basis of a university wide competition. They provide a tuition waiver and a stipend equal to $25,000 (as of 2013). There is no work requirement for holders of university fellowships. Candidates for the university fellowship must be nominated by the department; direct application by the candidate is not permitted. 

4. Teaching Positions
Qualified graduate students may teach undergraduate microeconomics and macroeconomics courses at UIC. These positions are available only to students who have passed the comprehensive exams in economic theory and are therefore not available to first year students. 

5. Minority Student Fellowships
The University also has a number of financial aid programs for minority students. Applicants should consult the Graduate College for more information.

6. On-campus Jobs
There are also a number of on-campus jobs available for both U.S. and foreign students. Interested students should contact the Student Employment  Office, 2200 SSB, 1200 W. Harrison m/c 335, telephone 996-3130, upon arrival at UIC. 

In order to be considered for financial aid positions (1) - (3) above, applicants need to apply by the funding priority deadline in January. The department must receive completed applications by January 15 in order to nominate applicants for a university fellowship. The department will make its own financial aid decisions at approximately the beginning of March. Financial aid decisions are made strictly on the basis of merit, and given only to PhD applicants. No distinction is made between foreign and domestic students. 

I-20 forms for foreign students are issued by the Admissions Office, not the Economics Department. Any financial aid offers made by the Economics Department will be reported to the Admissions Office for inclusion in the financial statement. Foreign students who are accepted into the program, but offered partial or no financial aid, must prove that they have the necessary funds required by the I-20 form.